KC1! COFFEE FUTURES:FIBO PULLBACK WITH FUNDAMENTAL NEWS...

Coffee prices on Thursday extended this week's rally. Coffee has moved higher this week despite concerns about coffee crops in Brazil. Weather has predicted above-average temperatures in the coming month for Brazil's coffee-growing regions, which could further stress Brazil's coffee plantations. Recent frost events in Brazil have damaged coffee trees. Surveys conducted by the government found that last month's frost events reached 194 municipalities and more than 80% were affected in some way. Control authorities said on August 3 he said sharp swings in temperatures over the past 30 days in Brazil have triggered severe defoliation of trees in coffee growing areas.
Nevertheless we can see how the chart is in a Situation of Pullback, with Volumes and Stochastic Indicator coming out of the Oversold area with divergence. The price has harmoniously rebounded on Fibonacci levels and our opinion sees the price of coffee rise also due to the possible decrease in stocks.

Do you think the cost of coffee will grow?